Section 8: Accounts and audit

(1) The Council shall, on behalf of the Institute, keep proper books of accounts in respect of each year and proper records concerning these accounts.
(2) The Council shall cause its accounts to be audited by an external auditor and when audited, the accounts shall be submitted annually to the members of the Institute for approval at the General assembly, and the annual audited account shall be deemed to have fulfilled the requirement of the financial reporting standard.
(3) An audit of the books of the Institute shall be in accordance with the Constitution of the Federal Republic of Nigeria.